HIF making a difference

December 9, 2012

The North Dakota Housing Incentive Fund is already making a difference in getting more housing built in the state but additional help is needed to keep all of the worthy projects on track.

The Housing Incentive Fund or HIF is a program that supports the development of affordable rental housing. It does not receive state funding but instead offers taxpayers a dollar-for-dollar tax credit for contributions into the fund. Essentially, by contributing to HIF you may direct your state tax dollars to help build the affordable housing where it is needed the most in our state.

The North Dakota Housing Finance Agency has conditionally committed HIF funding for 26 projects in the state that will provide 739 affordable rental units. Sixteen of the projects are fully funded with HIF contributions. The remaining 10 projects - in Bowman, Crosby, Devils Lake, Killdeer, Kulm, Mandan, Parshall, Ray, Watford City and Williston - are in need of taxpayer contributions of approximately $4.4 million before they can break ground.

We must act now to make sure all of the projects move forward. To do so, adequate contributions into the Housing Incentive Fund must be received by December 31, 2012. Contributions received by that deadline can be claimed on your 2012 tax return and those dollars can be directed to affordable housing projects that will begin construction right away. Contributions of any size and from any taxpayer are appreciated.

Housing is one of the greatest challenges to the quality of life we have traditionally enjoyed in North Dakota. Building affordable housing is important so that every North Dakotan whether they are waitresses, teachers, nurses, bank tellers, police officers, elderly or disabled have a place to call home. To make affordable housing happen, North Dakota needs your support. Your contribution to the Housing Incentive Fund will make a difference and will make our communities and state stronger.

More information about the Housing Incentive Fund and the tax credits may be found online at (www.NDHousingIncentiveFund.org) or by calling (701) 328-8080 or toll free at (800) 292-8621.